Question

The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at Maumee Motors during the last year:

Car | Age (years) | Selling Price ($ thousands) | Car | Age (years) | Selling Price ($ thousands) | |||||

1 | 8 | $9.5 | 7 | 6 | $10.0 | |||||

2 | 13 | 5.5 | 8 | 2 | 5.5 | |||||

3 | 7 | 9.7 | 9 | 1 | 9.6 | |||||

4 | 15 | 3.6 | 10 | 4 | 3.1 | |||||

5 | 9 | 3.2 | 11 | 9 | 7.0 | |||||

6 | 8 | 4.8 | 12 | 1 | 3.7 | |||||

**a.** Determine the correlation coefficient.
**(Negative answer should be indicated by a minus sign. Round
the final answer to 3 decimal
places.)**

*r* = ________

**b.** Determine the coefficient of determination.
**(Round the final answer to 3 decimal places.)**

**c.** Interpret these statistical measures. Does it
surprise you that an inverse relationship exists? **(Round
the final answer to the nearest whole number.)**

Weak negative (inverse) correlation between age of car and selling price. So, _______ percent of the variation in the selling price is explained by the variation in the age of the car.

Answer #1

The statistical software output for this problem is:

Hence,

a) r = -**0.176**

b) Coefficient of determination = **0.031**

c) Weak negative (inverse) correlation between age of car and
selling price. So, **3** percent of the variation in
the selling price is explained by the variation in the age of the
car.

The owner of Maumee Motors wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at Maumee Motors last year:
Car
Age (years)
Selling Price ($000)
1
7
4.5
2
8
7.7
3
6
9.4
4
2
7.2
5
4
4.7
6
11
4
7
15
6.2
8
14
7.7
9
7
9.9
10
10
6.6
11
9
6.4
12
11
7.6
Determine the...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price
($000)
1
9
8.1
2
7
6.0
3
11
3.6
4
12
4.0
5
8
5.0
6
7
10.0
7
8
7.6
8
11
8.0
9
10
8.0
10
12
6.0
11
6
8.6
12
6
8.0...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
10
11.7
2
7
10.7
3
12
5.1
4
13
4.8
5
8
8.0
6
8
13.1
7
8
10.2
8
12
9.6
9
11
9.6
10
13
3.7
11
6
11.5
12
6
10.2...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
9
10.5
2
6
8.6
3
12
3.1
4
14
3.0
5
7
7.0
6
7
11.4
7
7
8.2
8
12
6.9
9
12
6.9
10
14
2.1
11
5
9.6
12
5
8.5...

The owner of Maumee Ford-Mercury-Volvo wants to study the
relationship between the age of a car and its selling price. Listed
below is a random sample of 12 used cars sold at the dealership
during the last year.
Car
Age
(years)
Selling Price
($000)
Car
Age
(years)
Selling Price
($000)
1
15
12.0
7
13
9.7
2
10
10.1
8
17
9.0
3
17
5.4
9
16
9.0
4
19
4.9
10
19
4.9
5
12
5.6
11
8
11.4...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car Age (years)
Selling Price ($000)
1
11
12.2
2
8
11.0
3
16
4.9
...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
12
10.7
2
8
8.8
3
13
3.0
4
15
2.7
5
10
6.0
6
9
12.1
7
10
9.0
8
13
7.8
9
12
7.8
10
15
4.7
11
6
10.8
12
6
8.9...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
10
8.3
2
7
6.9
3
14
1.4
4
18
2.4
5
8
6.8
6
8
9.4
7
8
7.5
8
15
5.6
9
13
5.6
10
18
3.1
11
6
9.4
12
6
7.6...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
9
8.1
2
7
6.0
3
11
3.6
4
12
4.0
5
8
5.0
6
7
10.0
7
8
7.6
8
11
8.0
9
10
8.0
10
12
6.0
11
6
8.6
12
6
8.0...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
12
9.3
2
9
7.6
3
13
3.0
4
17
4.0
5
11
5.3
6
9
9.8
7
12
8.4
8
14
6.2
9
13
6.2
10
17
4.8
11
7
10.1
12
7
9.1...

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